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Happy Saturday Folks and welcome to the first day of July! Last week was a good week for Bitcoin and this week started off great as well, then out of no where it drops below $30K briefly; the fact that we are still above $30K says a lot. The best performing asset in the past 7 days was $SOL - up 19.88% and is at position #9 on Coinmarketcap.com. Last week the Fear and Greed Index was at 59 and today it's 58.
Most covered news this week was the Multichain hack. Cross-chain router Multichain developers confirmed an exploit that impacted $130 million in user-supplied tokens and cautioned users against using its service. The Podcast of the Week would have to go to Bankless as Raoul Pal answers the question if the bear market is almost over.
I've been saying the bear market was over once we crossed back above $20K; after dipping down to $15.7K. It's currently bumping up against overhead resistance around $30.3K and if it loses $30K it appears that $28.7K is in play.
Bottom line: As I type Bitcoin is trading at $30,194.11 and for the week (M-F) Bitcoin gained $814.17; week over week it's down $284.30.
Thanks for reading, watching, and listening with me each and every week!
Monday the price of Bitcoin closed at $31,156.44 and the fear and greed index was 62. The most covered news of the day was Bitcoin Hits Its Highest Price in Over a Year.(5)
Podcast of the Day: 178 - Is Crypto's Bear Market Almost Over? with Raoul Pal | Bankless
Tuesday the price of Bitcoin closed at $30,777.58 and the fear and greed index was 64. The most covered news of the day was ‘Best and final offer’: Cameron Winklevoss demands nearly $1.5B from DCG; SEC policies a complete disaster.(4)
Podcast of the Day: Texas Heatwave & Bitcoin Miners | Blake King | The Mining Pod
By Wednesday (Humpday) the price of Bitcoin closed at $30,514.17 and the fear and greed index was 61. The most covered news of the day was Saxo Bank ordered to liquidate its crypto holdings by Danish regulator.(4)
Podcast of the Day: Reboot - Bitcoin and The American Idea [Alex Gladstein] | Bitcoin Audible
Right over the hump on Thursday the price of Bitcoin closed at $29,909.34 and the fear and greed index was 56. The most covered news of the day was Tens of millions of dollars withdrawn from Multichain on Fantom in possible exploit; $130M.(7)
Podcast of the Day: #245: Mike Belshe, CEO of BitGo, on U.S. Regulatory Environment and Institutional Crypto Adoption | Cryptonews
As the week came to a close on Friday the price of Bitcoin closed at $30,342.27 and the fear and greed index right about 55. The most covered news of the day was Gemini Sues Digital Currency Group and Founder Barry Silbert Alleging 'Fraud.'(4)
Podcast of the Day: Bitcoin Class & Healthcare's Pass with Omid Malekan and Pradeep Goel | TCCS
WEEKEND NEWS
Nearly 190K people work in crypto, more than 50% located in the West. IMF Says Tax Systems Need To Be Updated for Crypto Assets, Decentralized Exchanges Part of the Problem.
Robert F. Kennedy Jr. invested up to $250,000 in Bitcoin after Miami's conference. 71,000 BTC Bought by Bitcoin Whales in Latest Accumulation Move: Details. Why Bitcoin Is Up 85% This Year: Q2 2023 Review. BlackRock ETF stirs US Bitcoin buying as research says 'get off zero.' Bitcoin (BTC) Ordinal Volume Explodes by a Staggering 2,834% in 2023 Q2, According to DappRadar. Experts warn 2024 Bitcoin halving to spell ‘death knell’ for crypto miners. Which bitcoin miners are growing the fastest in 2023? As Race for Spot BTC ETF Hots Up, CEO Cathie Wood Says Ark Invest is First in the Queue. BTC: Teenage Construction Worker Explains How Bitcoin Changed His Life.
Opinion: Renowned economist Saifedean Ammous explains why ‘Bitcoin is the answer’ for today’s financial landscape. U.S. Debt Skyrockets by Over $1 Trillion in 5 Weeks: Novogratz Says ‘Buy Bitcoin.’ Bitcoin Going ‘Much Higher’ Over the Next Decade, Says On-Chain Analyst Willy Woo.
Ethereum Core Dev Explains Why Proto-Danksharding Is a Big Deal. Why Doesn’t Ethereum’s Co-Founder Vitalik Buterin Stake All His ETH? The Answer May Surprise You! Over $1 billion inflows into Solana in a day. Tether freezes $2.5 million of USDT transferred from Multichain.
Opinion: Ethereum Inventor Vitalik Buterin Has Advice for Bitcoiners
Coinbase was aware of securities law violations, the SEC claims in letter. Binance CEO CZ Responds to Executive Departures Reports, Says Reasons ‘Dreamed Up’ for Staff Exits Are Wrong. Binance Lays Off Dozens of Employees With Plans To Trim US Workforce Amid Regulatory Pressure: Report.
Crypto.com sent user $50K by mistake — now wants $76K in return.
Losses From Crypto Hacks Now Total Over $30,000,000,000 Across More Than 1,100 Exploits: Security Firm SlowMist. Multichain attack triggers Twitter phishing scheme for FTM distribution.
